The Newton Longville conveyancing firm that I appointed last week on my purchase in Newton Longville have suddenly shut down. I chose them because I had to have a firm on the Skipton conveyancing panel and my preferred Newton Longville lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
I am currently in the process of buying my council flat in Newton Longville. I have a mortgage offer with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I have a mortgage with Santander for my property in Newton Longville. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Santander?
You must advise Santander in advance of letting out your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. It should not be necessary to do this via a Santander conveyancing panel firm.
UBS have agreed my home loan in principle, my offer on a flat in Newton Longville has been agreed to, what are the next steps?
The estate agent will wish to know who your solicitors are (ensure that the property lawyers are on the bank’s approved list). Telephone UBS or the financial adviser and finalise any relevant paperwork. UBS will sellect a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. UBS will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Newton Longville.
How does conveyancing in Newton Longville differ for newly converted properties?
Most buyers of new build property in Newton Longville approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Newton Longville tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Newton Longville or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Newton Longville ahead of instructing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders may not give a mortgage on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Newton Longville. Conveyancing will be smoother if you use a solicitor in Newton Longville especially if they regularly deal with such properties in Newton Longville.
As co-executor for the will of my aunt I am disposing of a house in Newport but live in Newton Longville. My solicitor (based 235 miles from meneeds me to execute a statutory declaration before completion. Could you suggest a conveyancing lawyer in Newton Longville who can attest and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Newton Longville based
I wish to sublet my leasehold apartment in Newton Longville. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A small minority of properties in Newton Longville do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I bought a basement flat in Newton Longville, conveyancing formalities finalised May 2011. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Newton Longville with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease finishes on 21st October 2080
With just 55 years left to run the likely cost is going to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.